Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Hammonton : Real Estate Advice

  • All16
  • Local Info0
  • Home Buying6
  • Home Selling0
  • Market Conditions1

Activity 1
Thu Nov 18, 2010
Don Tepper answered:
The investors will have to guarantee the financing personally.

A partnership is far weaker than even an LLC. I'm unaware of anyone willing to lend to a partnership. As for an LLC, it's possible to borrow in the name of the LLC if the partners agree to personally guarantee the loan. But lenders are very wary of lending money to LLCs unless they have a long history and are well established.

Besides, the investors shouldn't be going into it in a partnership structure in any case. Check with a lawyer for more information on that.

One other possibility--if the investors have money in IRAs--is to transfer some or all of their funds to self-directed IRAs. Then they can use that money for real estate investments. But it has to be done right.

Hope that helps.
... more
0 votes 3 answers Share Flag
Search Advice
Search
Financing in Hammonton Zip Codes

Followers

270